ZMIANY ZAPASÓW W SPÓŁKACH NOTOWANYCH NA GIEŁDZIE PAPIERÓW WARTOŚCIOWYCH W WARSZAWIE

The aim of the study was to investigate the behavior of inventory investment in different productive sectors. The hypothesis of this article is expressed by the statement that the level of inventory in relation to other financial variables is stable, which can be the result of inventory control that is exercised by companies. The research was conducted on the basis of quarterly financial statements of 88 companies listed on the Warsaw Stock Exchange in the period IQ 2007–IQ 2013. The statistical methods of data analysis (e.g. correlation analysis, mean, the coefficient of variation) were used to verify the hypothesis. This paper finds positive correlations between inventory and sales dynamics for most of analyzed sectors. Moreover, the analysis of indicators describing the relationship between inventory and other financial variables indicate their low volatility during the research period. However, there are differences in the level of these indicators, which might be caused by specificity of each sector. The findings of this paper lead to the conclusion that research on inventories should be conducted in order to find the factors affecting decisions on inventory investment.